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Financials · FATE

Fate Therapeutics Inc. (FATE) financials

For the twelve months ended Sep 30, 2026, Fate Therapeutics Inc. reported $4.75M of revenue and -$124.43M of net income.

Revenue, TTM
$4.75M
Revenue growth, YoY
-33.4%
Net income, TTM
-$124.43M
Net margin
-2619.6%
Free cash flow, TTM
-$106.85M
EPS, diluted, TTM
-$1.03
Cash
$43.94M
P/S
46.29
Market cap
$219.9M
Annual revenue$6.65M
FY2016FY2025
Annual net income-$136.31M
FY2016FY2025
Annual free cash flow-$112.04M
FY2016FY2025

FATE revenue and earnings growth

FATE revenueQ3 2026$0

Quarter YoY
-100.0%
QoQ
-100.0%
FY YoY
-51.2%
5Y CAGR
-26.7%
10Y CAGR
+10.6%

FATE revenue was $0 in fiscal Q3 2026 (ended Sep 30, 2026), down 100.0% from a year earlier and down 100.0% from the prior quarter. For the full fiscal 2025 it was $6.65M, down 51.2% from fiscal 2024. Compound annual growth was -26.7% over 5 years and +10.6% over 10 years. It rose in 6 of the last 10 fiscal years.

FATE net incomeQ3 2026-$30.69M

FATE net income was -$30.69M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$32.25M a year earlier. For the full fiscal 2025 it was -$136.31M, compared with -$186.26M in fiscal 2024.

FATE EPSQ3 2026-$0.25

FATE diluted EPS was -$0.25 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$0.27 a year earlier. For the full fiscal 2025 it was -$1.15, compared with -$1.64 in fiscal 2024.

FATE free cash flowQ3 2026-$27.80M

FATE free cash flow was -$27.80M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$26.58M a year earlier. For the full fiscal 2025 it was -$112.04M, compared with -$123.60M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$6.65M$13.63M$63.53M$96.30M$55.85M$31.43M$10.68M$4.74M$4.11M$4.40M
Research and development$107.83M$135.00M$172.60M$320.45M$215.52M$125.62M$87.77M$56.02M$34.36M$26.45M
Selling, general and admin$46.52M$74.17M$81.45M$84.23M$57.32M$33.90M$23.64M$15.81M$11.87M$9.91M
Operating income-$147.70M-$210.28M-$190.51M-$308.39M-$216.99M-$128.09M-$100.73M-$67.09M-$42.13M-$31.96M
Interest expense----$0$0$1.75M$1.70M$1.27M$1.64M
Income tax$2.0K$0$0$0$0$0$0---
Net income-$136.31M-$186.26M-$160.93M-$281.72M-$212.15M-$173.39M-$98.15M-$66.60M-$42.95M-$33.46M
EPS, basic-$1.15-$1.64-$1.64-$2.91-$2.24-$2.10-$1.44-$1.19-$1.02-$1.05
EPS, diluted-$1.15-$1.64-$1.64-$2.91-$2.24-$2.10-$1.44-$1.19-$1.02-$1.05
Diluted shares118.8M113.7M98.4M96.8M94.7M82.4M68.2M56.2M42.0M31.8M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$46.63M$36.06M$41.87M$61.33M$133.58M$167.35M$99.81M$190.51M$88.95M$88.61M
Short-term investments$157.03M$243.01M$273.31M$374.89M$482.33M----$3.50M
Receivables$916.0K$3.54M$1.83M$38.48M$8.68M$5.51M-$500.0K--
Current assets$208.70M$291.91M$331.54M$502.07M$633.41M$494.32M$227.09M$205.20M$102.60M$93.32M
Total assets$318.94M$440.69M$506.22M$705.56M$921.46M$622.46M$302.27M$213.03M$105.29M$95.05M
Current liabilities$36.07M$38.52M$39.09M$114.05M$81.28M$85.56M$27.81M$27.26M$11.05M$15.19M
Short-term debt-------$2.44M-$8.19M
Long-term debt-------$12.45M$14.81M$2.50M
Total debt-------$14.88M$14.81M$10.69M
Shareholders' equity$207.18M$318.73M$368.42M$483.94M$678.84M$384.44M$244.76M$160.47M$77.19M$73.15M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow-$106.08M-$122.87M-$132.26M-$248.21M-$162.87M-$39.23M-$83.17M-$38.65M-$36.82M-$29.82M
Capital expenditures$5.95M$730.0K$6.15M$35.57M$50.70M$4.93M$7.39M$2.30M$1.73M$457.0K
Free cash flow-$112.04M-$123.60M-$138.42M-$283.77M-$213.57M-$44.16M-$90.57M-$40.95M-$38.54M-$30.28M
Investing cash flow$111.17M$12.22M$112.67M$166.75M-$324.02M-$161.08M-$157.45M-$463.0K-$10.20M-$4.11M
Financing cash flow$5.49M$99.89M$85.0K$9.21M$453.13M$282.84M$149.93M$140.78M$47.36M$57.74M
Depreciation and amortization$12.90M$18.96M$18.28M$13.76M$5.85M$3.09M$2.19M$1.20M$971.0K$881.0K

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY-51.2%-78.5%-34.0%72.4%77.7%194.3%125.3%15.4%-6.7%81.1%
Operating margin-2222.4%-1542.6%-299.9%-320.2%-388.6%-407.5%-943.1%-1415.4%-1025.9%-726.1%
Net margin-2051.1%-1366.5%-253.3%-292.5%-379.9%-551.6%-919.0%-1405.0%-1046.1%-760.2%
Free cash flow margin-1685.8%-906.8%-217.9%-294.7%-382.4%-140.5%-848.0%-864.0%-938.7%-687.9%
Return on equity-65.8%-58.4%-43.7%-58.2%-31.3%-45.1%-40.1%-41.5%-55.6%-45.7%
Return on assets-42.7%-42.3%-31.8%-39.9%-23.0%-27.9%-32.5%-31.3%-40.8%-35.2%
Current ratio5.797.588.484.407.795.788.177.539.296.14
Debt to equity-------0.090.190.15

Source: XBRL data Fate Therapeutics Inc. files with the SEC, latest filing dated Nov 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

FATE peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
FATE$4.75M-33.4%-$124.43M-2619.6%$219.9M
AMGN$38.90B+8.2%$9.39B24.1%$249.05B
GILD$30.99B+6.5%-$3.86B-12.5%$207.00B
MRNA$2.23B-27.6%-$3.15B-141.4%$101.48B
ARGX$4.25B+88.6%$1.29B30.4%$57.55B
RVMD$0--$1.13B-$41.59B
BIIB$10.30B+2.3%$347.50M3.4%$36.71B
BNTX€2.87B+4.3%-€1.14B-39.6%$21.98B
EXEL$2.50B+9.1%$885.14M35.5%$16.98B

FATE FAQ

8 questions
  • What is FATE revenue?
    Fate Therapeutics Inc. (FATE) reported $4.75M of revenue for the twelve months ended Sep 30, 2026. That is down 33.4% from the year before. Revenue for fiscal 2025 was $6.65M.
  • Is FATE profitable?
    No. Fate Therapeutics Inc. reported a net loss of $124.43M for the twelve months ended Sep 30, 2026.
  • How much cash and debt does FATE have?
    Fate Therapeutics Inc. reported $43.94M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is FATE revenue growing?
    Fate Therapeutics Inc.'s revenue changed -51.2% in fiscal 2025, to $6.65M. Its compound annual growth rate was -26.7% over 5 years and +10.6% over 10 years.
  • What is FATE free cash flow?
    Fate Therapeutics Inc. generated -$106.85M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of -$105.34M less capital expenditures.
  • What is FATE earnings per share?
    Diluted earnings per share were -$1.03 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did FATE last report financial results?
    The latest statements here come from Fate Therapeutics Inc.'s 10-Q filed on Nov 5, 2026, covering the period ended Sep 30, 2026.
  • Where does this FATE financial data come from?
    Quantisnow builds these statements from the structured XBRL data Fate Therapeutics Inc. files with the SEC. It is provided for information only and is not investment advice.